Romania’s trade gap narrows by 9.3% y/y to EUR 7.7 bln in Q1

Romania’s trade deficit has narrowed for the fourth consecutive quarter, by 9.3% y/y to EUR 7.7 billion in Q1, 2026, according to data published by the statistics office INS. The deficit to GDP, calculated based on the latest available GDP data and in comparable terms, dropped to 2.0% in Q1 this year, from 2.4% in the same period of 2025.

Over the past four quarters to March 2026, Romania's trade deficit has contracted by 9.4% y/y to EUR 31.95 billion, or 8.4% of GDP (latest available), down from 10.0% calculated as of March 2025.

Romania’s imports contracted by 1.7% y/y to EUR 31.5 billion in Q1, on a combination of subdued domestic consumption and reduced economic activity, while the exports edged up by 1.1% y/y to EUR 23.8 billion.

However, the 12-month export-to-GDP ratio dropped to 25.6% calculated as of March 2026, down from 26.4% calculated one year earlier, witnessing slower economic activity.

The imports of mineral fuels, oil, and natural gas contracted by 14.2% y/y as two of the country’s refineries have been under technical shutdown part of the quarter, while the import of foods (a significant contributor to the country’s trade deficit) edged down by 0.2% y/y in Q1.

In turn, the exports’ rise was supported by a broader economic base: food exports rose by 5.2% y/y to EUR 1.77 billion, the exports of raw materials (goods with low processing grade) by 3.4% y/y to EUR 3.66 billion, and the export of transport means (automobiles mainly) rose by 2.9% y/y to EUR 11.1 billion.

(Photo source: Tatiana Golmer/Dreamstime.com)